Summary by Moomoo AI
UnitedHealth Group Incorporated reported a 9% increase in consolidated revenues to $99.8 billion for the first quarter of 2024, compared to the same period in 2023. The growth was primarily driven by an increase in the number of people served through Medicare Advantage and domestic commercial offerings, as well as pricing trends and growth in Optum Health and Optum Rx. However, the company recorded a net loss of $1.4 billion, attributed to a $7.1 billion loss from the sale of its Brazil operations and the impact of a cyberattack on Change Healthcare. The cyberattack resulted in $593 million of direct response costs and an estimated $279 million in business disruption impacts for the quarter. UnitedHealthcare revenues grew by 7%, while Optum revenues saw a 13% increase. Despite these challenges, UnitedHealthcare...Show More